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Statements

Subject Item
dbr:Marginal_demand
rdf:type
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Marginal demand
rdfs:comment
Marginal demand in economics is the change in demand for a product or service in response to a specific change in its price. Normally, as prices for goods or services rise, demand falls, and conversely, as prices for goods or services fall, demand rises. A product or service for which price changes cause a relatively big change in demand is said to have elastic demand. A product or service where price changes cause a relatively small change in demand is said to have inelastic demand.
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dbc:Marginal_concepts dbc:Demand
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dbr:Price_elasticity_of_demand dbr:Economics dbc:Demand dbr:Supply_and_demand dbc:Marginal_concepts
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Marginal demand in economics is the change in demand for a product or service in response to a specific change in its price. Normally, as prices for goods or services rise, demand falls, and conversely, as prices for goods or services fall, demand rises. A product or service for which price changes cause a relatively big change in demand is said to have elastic demand. A product or service where price changes cause a relatively small change in demand is said to have inelastic demand.
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